HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Results of the Annual General Meeting

HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1973/007111/06)
Share code: HCI
ISIN: ZAE000003257
('HCI' or 'the Company')




RESULTS OF THE ANNUAL GENERAL MEETING



Shareholders are hereby advised that at the annual general meeting of the Company held at 12:00
today, Thursday, 15 October 2020 at the registered offices of the Company, Suite 801, 76 Regent
Road, Sea Point ('AGM'), all of the resolutions were passed by the requisite majorities of the
Company's shareholders.


Details of the results of the voting at the AGM are as follows:


                                         Votes
                            Votes for    against

                            resolution   resolution

                            as a         as a                       Number of      Number of
                            percentage   percentage                 shares         shares
                            of total     of total                   voted at       abstained
                            number of    number of     Number of    AGM as a       as a
                            shares       shares        shares       percentage     percentage
 Resolutions                voted at     voted at      voted at     of shares in   of shares in
 proposed at the AGM        AGM          AGM           AGM          issue          issue
 Ordinary resolution
 number 1:
 Re-election of director:



 1.1:                       98.30%       1.70%         68 343 329   79.82%         0.01%
 Mr J A Copelyn



 1.2:                       95.71%       4.29%         68 339 929   79.82%         0.02%
 Mr F M Magugu



 1.3:                       97.78%       2,22%         68 339 929   79.82%         0.02%
 Mr V E Mphande



 1.4:                       98.56%       1.44%         68 339 929   79.82%         0.02%
 Ms L McDonald



 1.5:                       98.61%       1.39%         68 339 929   79.82%         0.02%
 Ms S N N Mkhwanazi-
 Sigege


 1.6:                       99.83%       0.17%         68 339 929   79.82%         0.02%
 Mr M H Ahmed


 Ordinary resolution        100.00%      0.00%         68 339 929   79.82%         0.02%
 number 2:
 Re-appointment of
 auditor: BDO South
 Africa Inc


 Ordinary resolution
 number 3:
 Re-appointment of
 audit committee
 members



 3.1:                      99.98%     0.02%           68 339 929   79.82%         0.02%
 Mr M H Ahmed



 3.2:                      97.06%     2.94%           68 339 929   79.82%         0.02%
 Mr J G Ngcobo



 3.3:                      98.42%     1.58%           68 343 329   79.82%         0.01%
 Ms R D Watson



 Ordinary resolution       62.94%    37.06%           68 343 329   79.82%         0.01%
 number 4:
 General authority over
 authorised but
 unissued shares



 Ordinary resolution       97.70%    2.30%            68 343 329   79.82%         0.01%
 number 5:
 Directors' authority to
 implement company
 resolutions



 Non-binding advisory      74.49%     25.51%           68 203 329   79.66%         0.18%
 vote number 1: Non-
 binding advisory
 endorsement of
 remuneration policy



 Non-binding advisory      76.00      24.00%           68 203 329   79.66%          0.18%
 vote number 2: Non-
 binding advisory
 endorsement of
 remuneration
 implementation report



 Special resolution        77.63%     22.37%          68 343 329     79.82%         0.01%
 number 1:
 General authority to
 issue shares, options
 and convertible
 securities for cash

 Special resolution        99.99%      0.01%          68 203 329     79.66%         0.18%
 number 2:
 Approval of annual
 fees to be paid to non-
 executive directors



 Special resolution        98.95%      1.05%          68 343 329     79.82%         0.01%
 number 3:
 General authority to
 repurchase company
 shares



 Special resolution        85.55%      14.45%         68 341 862     79.82%         0.01%
 number 4:
 Shareholders' general
 authorisation of
 financial assistance




More than 25% of the votes exercised by shareholders, voted against the Company's
Remuneration Policy at the annual general meeting. In terms of the recommendations of the King
IV' Report on Corporate Governance for South Africa,2016 and paragraph 3.84j of the JSE
Limited Listings Requirements, HCI's Remuneration Committee (the Committee), on behalf of the
Board, will engage with shareholders to better understand the reasons why they voted against the
non-binding advisory endorsement, to enable the Committee to consider these concerns.


Accordingly, any shareholder that voted against the non-binding advisory endorsement of the
remuneration policy and who would prefer to engage further with the Company, is requested to
write to Cheryl Philip, Company Secretary via email to cshapiro@hci.co.za, setting out any reason
for voting against the non-binding advisory endorsement of the remuneration policy , and indicating
whether such shareholder would be interested in participating in further engagement. The
Company will determine the format of such engagement once it has a better understanding from
shareholders as to the reasons for their dissenting vote.

Cape Town
16 October 2020

Sponsor: Investec Bank Limited

Date: 16-10-2020 09:23:00

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